All Forum Posts by: Jacob Sanders

Hello everyone!

My wife and I are new to Real Estate Investment, but we have spent a great deal of time learning about the various methods, terminology, etc. 

I have spent hours listening to nearly every episode of the BP podcast, and I have read several books on Real Estate Investment (which I heard about via the BP podcast). 

My wife and I are ready to take the leap and flip our first home! We are very excited about the process, however, our concern is the funding portion. 

We are looking for a private lender in Arizona that is willing to invest their money on a home flip. We have already seen a few deals that look quite promising, but we wanted to try and find funding first before we got too far along. 

From our research and learning, we know that there are several ways to fund a home flip with private money, so we are very willing to learn and are open to suggestions. 

One method that we have in mind is finding someone that will fund the down payment and rehab costs.

Even if you are not a private lender, but know someone that you have worked with in the past, we would appreciate any information at all. 

Very Respectfully,

Jacob Sanders 

(and wife, Taylor, who does not have a BP account)

I may have missed in already in this thread, but I think another simple (yet admittedly mundane) method is to use gift cards. I have used this method a couple times to get the minimum spend requirements met on my rewards credit cards in a few short weeks with little real "effort."

Here's how it works:

• Use your credit cards to go to a retail outlet that sells gift cards
• Use your credit card to purchase Visa gift cards in the amount of $500 until you max out your credit line. (Example: If you have a credit limit of $2500, you could purchase five $500 gift cards)
• Register the gift cards following the process outlined in the paperwork that comes with your Visa gift card. Registering the gift card allows you to turn it into a "debit card" of sorts with its own pin number (which is the important part). 
• Then you take the $500 gift card and go anywhere that allows you to purchase money orders. Because your gift card is now registered and has a pin number and your address associated with it, it has the functionality of a gift card. 
• Purchase a money order in the amount of $500 (this can cost anywhere from 75 cents to $1.50)
• Then you can use that money order to deposit the money into your bank account in $500 increments. 

In true gift card churning style, you would then use that money to pay off the balance of your credit card that you just maxed out, thus reaping the benefit of getting the awards points, miles, etc. 

However, this can be beneficial if you want to just use the money for a flip or something and pay a smaller interest rate than you would for a traditional balance transfer. Like I said, it can take a long time and can be mundane and boring, but it works. 

A challenge you might come across is finding a place that allows you to purchase a money with a gift card. If they give you a hard time, just let them know that the gift card is registered and should work just the same as a regular debit card. Some of the best places I have found are Walmarts and gas stations such as 7-Eleven.

Hey, Ana!

Rest assured, there are plenty of people that feel the same way you do. I do not necessarily think that anything is "wrong" with you. There is nothing wrong with wanting to talk about your passion or study and learn more about it. Some couples don't share hobbies and that isn't necessarily a bad thing. You just have to find balance. Balance that both of you are comfortable with. The world of real estate has so many different categories within it, that one can talk about it for DAYS and still not cover it all. 

I think that a solution would be to NOT give up your passion for business, but rather set limits for yourself. For example, no talking about business at the dinner table, no talking business on Sundays, etc. You'll find what parameters work for you and your family, but it is a great place to start. Meanwhile, while you're working on setting those parameters and getting used to them, you can use that time as an opportunity to further develop your interests in another hobby. 

Hey everyone!

I'm not sure if this is the right place to post this or not, but I was wondering if anyone has any experience with local REI Meetups in the Phoenix area. I'm having trouble finding some. I found one that plays the Cash Flow game by Rich Dad Poor Dad once a month, but that's not what I'm looking for.

Thanks!

I'll be ordering mine very soon! Y'all should think about other merchandise as well.

• Bumper stickers
• Notepads
• Pens!
• Hats
• Water bottles
• Leather portfolios (to keep documents in while on the go)
• Etc

I think the chat works quite nicely! I've used it in the most recent versions of Safari and Chrome with no issues. I think adding it to the BP app would be a nice update in the future though. 

Hey, Tom!

Welcome to BiggerPockets! I'm from Goodyear, Arizona so we're practically neighbors. I'm new to investing as well, so maybe we can connect at some point and learn from each other. 

Pleasure to meet you!

Hey there! As a new investor myself, I can certainly tell you what I've been doing that has worked really well for me so far.

• Read
  • I have already read several books about real estate investing and they have proven to be exceptionally valuable in starting my career. A great start is the free guide offered by BP. You can get it here: http://www.biggerpockets.com/real-estate-investing
  • Another book that I recommend is Rich Dad Poor Dad. Some love it and some hate it, but there are some incredibly valuable insights in that book and nuggets of wisdom that you will carry with you for the rest of your life.
• Podcasts
  • The BP podcast is my go-to podcast when I'm in my car or on an airplane (I currently travel full-time for my 9 to 5 job). It was the first resource I was exposed to and there is SUCH great content available on the podcast! Very inspirational. 
• Blogs
  • Again, the BiggerPockets blog is awesome and probably the best real estate blog I have come across in my research phase. 
  • One suggestion I have: download the free app "Pocket" from the app store on your smartphone. This will allow you to save articles to your phone offline so that you can read them later. If you come across an article that you like but don't quite have enough time to read all of it, save it and read it later. Don't just pass it up.
• Network
  • I'm having a particularly difficult time finding real estate investor groups where I'm at, but I know they're a great resource. See if there are any in your area and go check it out. 
  • BiggerPockets! Browse the forums, read posts, introduce yourself, comment on things, etc. You never know who you'll meet and maybe even get to work with in the future.

As I said at the beginning, I'm a beginner as well, but these things have worked really well for me so far. Hopefully they can help you as well.

Good luck and have FUN!